Trexquant Investment LP Trims Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Trexquant Investment LP decreased its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,217 shares of the company's stock after selling 76,491 shares during the period. Trexquant Investment LP owned 0.36% of Travere Therapeutics worth $4,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in shares of Travere Therapeutics during the fourth quarter worth about $14,222,000. abrdn plc purchased a new position in shares of Travere Therapeutics during the fourth quarter worth approximately $6,829,000. Prudential Financial Inc. raised its position in Travere Therapeutics by 60.5% in the 4th quarter. Prudential Financial Inc. now owns 969,141 shares of the company's stock valued at $16,882,000 after purchasing an additional 365,200 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in Travere Therapeutics during the 4th quarter worth $5,226,000. Finally, Two Sigma Advisers LP grew its position in Travere Therapeutics by 30.2% during the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock worth $10,078,000 after purchasing an additional 167,100 shares during the last quarter.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded down $0.94 during trading hours on Thursday, hitting $13.41. 532,642 shares of the stock were exchanged, compared to its average volume of 1,521,138. The company's 50 day moving average is $19.86 and its 200 day moving average is $18.57. Travere Therapeutics, Inc. has a one year low of $5.12 and a one year high of $25.29. The firm has a market capitalization of $1.19 billion, a P/E ratio of -3.29 and a beta of 0.84. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

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Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The business had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. On average, research analysts expect that Travere Therapeutics, Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, insider Peter Heerma sold 1,584 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total transaction of $30,000.96. Following the sale, the insider now owns 106,374 shares in the company, valued at approximately $2,014,723.56. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William E. Rote sold 2,437 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,829 shares of company stock valued at $4,146,997. Corporate insiders own 4.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price target on Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday. Scotiabank upped their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.62.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.